An English Wall: The Wedding of Turkish Banking Regulation Deputy Chairman

The deputy chairman of the Turkish Banking Regulation and Supervision Agency (BDDK), Mustafa Aydın, recently made headlines for his wedding, where he invited generous gifts from banking officials.

The BDDK was established in 1999 to regulate and supervise the financial sector, ensuring the efficient operation of banks, leasing companies, asset management companies, and factoring companies, and protecting the interests of depositors.

A Wedding that Raised Eyebrows

Historically, BDDK officials maintained a distant relationship with the companies they regulated. However, deputy chairman Aydın invited executives from banks and other financial institutions to his wedding on September 19 at a five-star hotel in Istanbul.

Journalist Timur Soykan crashed the wedding and broke the story, noticing that the bank executives were preparing to present gifts at the wedding.

A Gift-Giving Ceremony like No Other

Soykan reported that before the wedding, the executives held meetings to decide on the gifts, with some discussing how much to give in order to avoid being defeated by competing companies. According to Soykan, the gift-giving ceremony lasted for hours, and there was no dancing or celebration.

Soykan also said that BDDK officials had in the past kept a significant distance from the companies they regulated. He added, “Financial institutions felt they had no choice but to attend the wedding of the official who regulated them on behalf of the state. It was difficult to decide how much of a gift was a gift. Rumor has it that some have even gathered information about the contributions of rival companies to avoid being left behind. Bank CEOs set budgets between 150,000 and 350,000 Turkish lira (4,000 to 13,000 dollars) for the gifts.”

Ties to the Nationalist Movement Party (MHP)

Soykan attended the wedding uninvited and shared insights from the event. Accordingly, banks, factoring companies, payment institutions, and asset management companies sent nearly 100 wreaths to the event, which filled the entire lobby. Wreaths continued to arrive, many from MHP officials, suggesting that Deputy Chairman Mustafa Aydın had ties to the MHP.

Wedding witnesses included MHP deputy speaker Celal Adan, MHP deputy chairman and Istanbul MP İsmail Faruk Aksu, MHP deputy secretary general and İzmir MP Zafer Osman Ağaoğlu, MHP board member and Antalya MP President Abdurrahman, MHP Niğde MP Cumali İnce, and MHP Chief Counselor Ruhi Ersoy. The mayor of the western province of Kırklareli and MHP member Derya Bulut officiated the wedding.

A Wedding with No Joy

Soykan noted that the gift-giving ceremony lasted for hours. None of the guests danced, and there was “no joy,” he said. “Most of the guests left the hotel after putting their gifts in the box and posing for a picture with the wedding photographer.”